Market News

Midday cash livestock markets

Direct cash cattle trade is starting the week off in its typical slow fashion.  Packers are focused on the collection of new showlists.  Significant trade volume will likely be delayed until the latter part of the week.  Last week’s cattle trade came in waves with very wide ranges.  Those wide ranges were a result of many deals being set for delayed delivery. Deals in Kansas ranged from $112 to $117; Nebraska ranged from $176 to $187; Texas $115 to $118; Colorado $112 to $116; and Iowa at $180 to $192.

Boxed box is weak to lower at the midday on light box movement.  Choice is $1.01 lower at $231.20 and Select is $.34 lower at $208.12.  The Choice/Select spread is $23.08.

At the Oklahoma National Stockyards receipts are down on the week.  Compared to last week’s market, at the open, feeder steers and heifers are lightly tested and are trading with a lower undertone on limited offerings.  The USDA says demand is moderate and the quality is average to attractive.  Feeder supply included 52 percent steers and 63 percent of the market was over 600 pounds.  Medium and Large 1 feeder steers 600 to 700 pounds are $150.00 to $151.00 and feeder steers 800 to 900 pounds are $124.50 to $132.75.  Medium and Large 1 feeder heifers 600 to 700 pounds are $131.00 to $142.00 and feeder heifers 700 to 800 pounds are $121.50 to $128.00.

Cash hogs were called steady to lower this morning.  The major direct markets were not reported due to confidentiality.  The trade continues to watch the availability of market-ready numbers.  Supply is still a concern, especially with demand uncertainties.  However, some seemingly positive trade talks with China are helping to alleviate some of those worries.  The seasonal slow-down in slaughter numbers should help provide at least some price support to producers.

The Midwest cash butcher hog markets are closed in Wisconsin and Iowa this week.  At the Interior Missouri Direct, receipts are even on the week.  Compared to Friday’s closed barrows and gilts are steady to $1.00 lower at $52.00 to $57.00 on light to moderate supply and demand.  Sows are steady to $2.00 lower at $28.00 to $43.00.  At Illinois, slaughter sows are $1.00 lower at $30.00 to $43.00 with moderate demand for heavy offerings.  Barrows and gilts are steady at $37.00 to $46.00 with moderate demand for moderate offerings.

Pork values opened sharply higher – up $4.09 at $78.00.  The primals are mostly higher – led by the nearly $10 jump in the bellies and the more than $6.00 jump in the hams.